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Refer to the figure. In the 1980s, efforts to control pest populations of cockroaches often involved glucose baits laced with insecticide. Over time, these baits became less effective because populations that had been exposed to them for many generations tended to avoid them. Additionally, in individuals exhibiting glucose avoidance, taste receptor neurons that were normally only activated by bitter substances were activated by glucose instead. Given this background and the data in the figure, which of the following statements is false?
MR = MC
A condition in economics where marginal revenue equals marginal cost; it's the optimal production point for firms maximizing their profit.
Monopolistically Competitive
Refers to a market structure where many companies sell products that are similar but not identical, allowing for some degree of market power and product differentiation.
Positive Economic Profits
Situations where a firm's total revenues exceed all its costs, including opportunity costs, indicating that it is earning more than the minimum required to stay in business.
Monopolistically Competitive
A market structure where many firms sell products that are similar but not identical, allowing for slight differentiation and some control over pricing.
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